Herb Leong

In article <1150628506.183124.7750@c74g2000cwc.googlegroups.c om>,
Peter <petgray@hotmail.com> wrote:
#My position on the refund is that I had it for 6 months and I should be
#entitled to a refund of the purchase price less six months'
#depreciation. If we assume depreciation of 30% per annum, the buy-back
#price should be 85% of the purchase price or $16,609.42.
#
#Humber Motors has adopted an alternative method of calculation. They
#say that they want to calculate it on the basis of a usage charge of
#$800 per month, or $4,800 over six months, plus tax. This is what I
#would have paid them if I had leased the vehicle from them. They work
#this out at $5,520, which when deducted from the purchase price leaves
#a refund of $14,020.50 (the amount of the interim payment).

Take a Kelly Blue Book and figure out the value for it when you bought
it and when you sold it. The difference (either the actual sum or the
percentage) is what they should subtract.

/herb